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There are a lot of open jobs and labor rates are going to have to go up so I think we're

going to have on top of this material inflation which has been the issue so far we're going to have

I think significant labor inflation as well and you know once you get the labor inflation then

it's hard to contain the prices in the end markets. Welcome to the Baron Streetwise podcast

I'm Jack Howe and the voice you just heard that's Jim Laurie he's the CEO of Stanley Black

and Decker the toolmaker and that puts him at the center of some themes of great interest

to stock investors right now including inflation and wages and the housing boom and the dawn of

autonomous driving or in Jim's case autonomous mowing so let's talk tools and high finance

I'm going to wear my steel toe boots with my knee high black dress socks safety first

fashion to close second if you enjoy economic indicator drama may is shaping up to be your month

a little over a week ago we saw the biggest jobs miss ever for the month of April

economists and analysts had estimated that about a million new jobs would be created but

the actual number of jobs created was only about one quarter of that that's like predicting beach

weather and getting a foot of snow and then this past week the inflation rate the rate at which

prices are rising for ordinary goods and services that came in at 4.2% for the month of April versus

a year ago that's the fastest inflation since the summer of 2008 back when the oil

price spiked to more than double today's level and then quickly collapsed now Wall Street had

been watching for faster inflation in recent weeks but not quite this fast many investors find

economic indicators a less interesting topic than shall we say Tesla stock or Bitcoin or even just

...